Bitcoin (BTC.CPT)

Close: 62 731.00 (+3 029.20), May 4, 2024
Hold

Medium risk

chart Bitcoin (BTC) Candlesticks 22 Days
Candlesticks
chart Bitcoin (BTC) Short term
Short term: Hold
chart Bitcoin (BTC) Medium term
Medium term: Hold
chart Bitcoin (BTC) Long term
Long term: Weak Negative
chart Bitcoin (BTC)
RSI - Relative Strength Index

Short term

Bitcoin is within an approximate horizontal trend channel in the short term, which indicates further development in the same direction. The currency has met the objective at 60766 after the break of the double top formation. The price has now risen again, but the formation indicates a further fall. The currency has marginally broken up through resistance at points 62000. An established break predicts a further rise. Volume has previously been low at price tops and high at price bottoms. Volume balance is also negative, which weakens the currency and indicates increased chance of a break down. The currency is overall assessed as technically neutral for the short term.

Recommendation one to six weeks: Hold (Score: -8)

Medium term

Bitcoin is in a rising trend channel in the medium long term. Rising trends indicate that the currency experiences positive development and that buy interest among investors is increasing. The currency has met the objective at 60766 after the break of the double top formation. The price has now risen again, but the formation indicates a further fall. The currency has support at points 40000 and resistance at points 73000. Negative volume balance weakens the currency in the short term. The currency is overall assessed as technically neutral for the medium long term.

Recommendation one to six months: Hold (Score: 17)

Long term

Bitcoin has broken the rising trend up in the long term. This signals an even stronger growth rate. The currency has broken down through support at points 66000. This predicts a further decline. In case of positive reactions, there will now be resistance at points 66000. Negative volume balance indicates that volume is high on days with falling prices and low on days with rising prices, which weakens the currency. The currency is overall assessed as technically slightly negative for the long term.

Recommendation one to six quarters: Weak Negative (Score: -42)


Overall analysis

Bitcoin is technically neutral for the short and medium term, but negative for the long term.

Recommendation one to six months: Hold (Score: -19)

Period  
 Vol.bal. Volatility Liquidity +/- %
1 day-1.65%27 265.23+5.07%
5 days-39.895.61%29 572.72+0.77%
22 days-58.3415.46%23 983.90-11.64%
66 days-3.4637.51%28 015.16+9.60%
 


Investtech guarantees neither the entirety nor accuracy of the analyses. Any consequent exposure related to the advice / signals which emerge in the analyses is completely and entirely at the investors own expense and risk. Investtech is not responsible for any loss, either directly or indirectly, which arises as a result of the use of Investtechs analyses. Details of any arising conflicts of interest will always appear in the investment recommendations. Further information about Investtechs analyses can be found here disclaimer. The content provided by Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers.

Data:


Investtech guarantees neither the entirety nor accuracy of the analyses. Any consequent exposure related to the advice / signals which emerge in the analyses is completely and entirely at the investors own expense and risk. Investtech is not responsible for any loss, either directly or indirectly, which arises as a result of the use of Investtechs analyses. Details of any arising conflicts of interest will always appear in the investment recommendations. Further information about Investtechs analyses can be found here disclaimer. The content provided by Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers.

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